Africa's Billionaire List, 2018

Africa's Richest 23

Two newcomers join the illustrious list and overall wealth of Africa's billionaires swells to $75.4 billion from $70 billion last year. 2017 was a good year for business in the continent.

After a full year's work, Africa's richest are even richer and clearly more driven. Two new entrants join the illustrious list and overall wealth of Africa's billionaires swells to $75.4 billion from $70 billion last year. These ladies and gentlemen are working overtime! Forbes says the better fortunes are attributable to rising stock and commodity prices. 2017 was clearly a good year for business.

There are very few surprises in the list; the usual suspects are making a killing in Africa's blossoming economic frontiers but as already said, 2 newcomers officially join the growing class of African billionaires: Zimbabwe's Strive Masiyiwa (worth a fat $1.7 billion) and Michiel Le Roux of South Africa ($1.2 billion). Desmond Sacco, a South African mining tycoon reenters the list after a five year absence. The richest man for the seventh successive year is none other than cement and commodities tycoon, Aliko Dangote with a solid net worth of $12.2 billion. Nicky Oppenheimer, a mining magnet, comes second with $7.7 billion. Johann Rupert ($7.2 billion) is third while Nassef Sawiris' $6.8 billion is good for fourth. Mike Adenuga's net worth of $5.3 billion earns him fifth place in the list.

Billionaire Trivia

Isabel dos Santos with her $2.7 billion net worth and Folorunsho Alakija with $1.6 billion are the only two ladies to make the list this year. It should be noted that dos Santos' net worth tumbled from last year's $3.2 billion due to a lower value for Banco BCI, an Angolan bank whose book value plunged in 2016 amid a tough year for the oil producing country.

Tanzania's Mohammed Dewji with an estimated worth of $1.5 billion is the youngest on the list at 42 while Egyptian Onsi Sawiris at 88 is the oldest.

8 South Africans made the list thus making it the country with the highest number of billionaires in Africa.

Nassef Sawiris, ranked fourth, is Onsi Sawiris' son (Onsi Sawiris is ranked 21st, also the oldest African billionaire). It sure runs in the family!